‘Way Too Much Pork’ Makes Trade War Bite U.S. Hog Markets
- Futures hit lowest since March even as swine fever rages
- U.S. pork producers losing $1 billion annually on trade: Group
Twenty one day-old pigs stand in a trailer prior to transport to a nearby weaning-to-market barn in Strawn, Illinois.
Photographer: Daniel Acker/Bloomberg
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Trade concerns are starting to make all other factors in the hog market look obsolete.
Futures have tumbled to the lowest since March. That’s as African swine fever decimates China’s pig herd in an unprecedented global supply disruption. Even though the Asian nation is importing huge amounts of meat, American producers are losing out to rivals in Brazil and elsewhere because of Donald Trump’s trade war. What’s more, the U.S. president’s threat of additional tariffs is sparking concerns that a deal to end the spat is even further away.